PETALING JAYA: Berjaya Assets Bhd
(BAssets) has entered into a joint venture (JV) agreement with HSHP Auto Technology Sdn Bhd and PG Car Centre (Northern Region) Sdn Bhd to subscribe for 51% stake in Berjaya Autotech Sdn Bhd, to develop and expand its automotive operations for a cash subscription of RM5.10mil.
In a filing with Bursa Malaysia, BAssets said the JV was inked via its wholly-owned subsidiary Berjaya Assembly Sdn Bhd (B-Assembly).
The proposed JV is expected to be completed by the second quarter of 2025.
It will enable the BAssets group to develop and expand the automotive assembly lines and operations of B-Assembly to facilitate the assembly of other types of vehicles.
“The board does not foresee any material risk other than the operational risks associated with the proposed JV,” it said.
